Logistic Properties Of The Americas · AMEX:LPA
Logistic Properties Of The Americas — Q4 2025 Earnings Presentation
27 slides from Logistic Properties Of The Americas's earnings presentation, Mar 18, 2026
Slide 1: Fourth Quarter 2025 Supplemental Information
Fourth Quarter 2025 Supplemental Information Logistic Properties of the Americas
Slide 2: Disclaimer
Disclaimer This presentation (the “Presentation”) is provided for informational purposes only and has been prepared to provide interested parties with certain information about Logistic Properties of the Americas and its subsidiaries (collectively, “LPA”) and for no other purpose. This Presentation
Slide 3: Developer, Owner, Manager and Acquirer of logistics real estate
3 Development and construction(2) of properties in the land bank DEVELOPER Asset ownership on a long-term basis OWNER Leasing and management(3) of assets MANAGER Logistic Properties of the Americas is a leading developer, owner, acquirer and manager of logistic and industrial real estate of internat
Slide 4: Content
4 Content LPA Parque Logístico Calle 80 – Bogota, Colombia Highlights • Company Profile 5 • Company Performance 6 • Financial Summary 7 Financial Information • Consolidated Balance Sheet 8 • Consolidated Statement of Profit or Loss and Other Comprehensive Income (Loss) 10 • Reconciliation for Adjust
Slide 5: Company Profile
5 BOGOTA, COLOMBIA Operating GLA (sqft) Development GLA (sqft) Land Reserves (acres)(6) 1,255,286 - 51 SAN JOSE, COSTA RICA Operating GLA (sqft) Development GLA (sqft) Land Reserves (acres)(6) 2,516,471 - - 7.6 mm sqft Gross Leasable Area(1) 100.0% Occupancy(2) 79.9% US dollars-denominated Leases(3)
Slide 6: Company Performance
6 As of and for the three months ended US$ in millions, except for number of buildings, sq ft, and percentages December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 Portfolio (sq ft) Same Property Portfolio No. of buildings 28 28 28 28 27 Gross leasable area (GLA) 4,745
Slide 7: Highlights Financial Summary
7 Highlights Financial Summary (1) Net Debt/Investment properties US$ in millions, except for percentages As of and for the three months ended December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 Rental revenues 13.6 12.2 11.6 11.8 11.0 Revenues 13.7 12.9 11.7 11.8 11.
Slide 8: Consolidated Balance Sheet: Assets
8 As of December 31, 2025 December 31, 2024 ASSETS CURRENT ASSETS: Cash and cash equivalents 27,323,468 28,827,347 Due from affiliates — — Lease and other receivables, net 4,142,217 2,641,772 Receivables from the sale of investment properties - short term — 3,589,137 Prepaid construction costs 125,0
Slide 9: Consolidated Balance Sheet: Liabilities and Equity
9 As of December 31, 2025 December 31, 2024 LIABILITIES AND STOCKHOLDERS’ EQUITY CURRENT LIABILITIES: Accounts payable and accrued expenses 11,694,817 $ 8,356,915 Income tax payable 7,101,476 2,764,352 Retainage payable 2,598,043 1,500,729 Long term debt – current portion 10,270,261 12,636,821 Secur
Slide 10: Consolidated Statements of Profit or Loss and Other Comprehensive Income
10 Financial Information Consolidated Statements of Profit or Loss and Other Comprehensive Income (Loss) (1) Listing expense is a non-cash item that relates to the difference in the fair value of the shares deemed to have been issued by the accounting acquirer and the fair value of the accounting ac
Slide 11: Reconciliation for Adjusted EBITDA, FFO, AFFO, NOI
11 Financial Information Reconciliation for Adjusted EBITDA, Adjusted EBITDA margin, FFO, AFFO, NOI and NOI margin(1) (1) Refer to the “Non-IFRS Financial Measures and Other Measures and Reconciliations” in the Management’s Discussion and Analysis (“MD&A”) for more details around the non-IFRS measur
Slide 12: Reconciliation for Adjusted EBITDA, FFO, AFFO, NOI (continued)
12 Financial Information Reconciliation for Adjusted EBITDA, Adjusted EBITDA margin, FFO, AFFO, NOI and NOI margin (continued)(1) For the three months ended US$ in millions December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 Net Operating Income Rental revenues 13.6 1
Slide 13: Total Portfolio GLA
13 6,029 6,029 5,771 5,772 5,543 5,804 5,550 5,293 5,293 5,122 224 478 478 479 421 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 1,255 1,255 1,255 1,255 1,255 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Operations Overview By Geography Development GLA Operating GLA 2,516 2,516 2,516 2,516 2,516 Q4 2025 Q3 202
Slide 14: Operating Portfolio – Period End Occupancy
14 100.0 92.2 92.2 100.0 100.0 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 100.0 98.8 95.3 95.3 94.8 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 100.0 100.0 95.2 98.7 99.4 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 100.0 97.9 94.5 98.0 98.3 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Operations Overview Operating
Slide 15: Rental Revenues
15 2.8 2.5 2.4 2.4 2.3 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 4.2 3.5 3.3 3.4 2.6 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 6.2 6.0 5.9 6.0 6.2 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 13.6 12.2 11.6 11.8 11.0 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Operations Overview Rental Revenues (US$ million) Co
Slide 16: Net Operating Income
16 2. 5 2. 1 2. 0 1. 9 2. 02. 4 2. 2 2. 1 2. 0 1. 9 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 3. 4 2. 8 2. 6 2. 3 1. 5 2. 8 2. 9 2. 7 2. 0 1. 7 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 5. 3 5. 2 5. 0 5. 2 5. 4 5. 3 5. 1 4. 8 5. 2 5. 3 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 11.6 10.4 9.6 9.4 8.9 11.0 1
Slide 17: Average Rent per Square Foot
17 8.38 7.91 7.34 7.14 6.55 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 9.06 7.67 7.66 7.58 7.49 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 8.70 8.68 8.68 8.60 8.57 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 8.65 8.14 8.07 7.96 7.79 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Operations Overview Total Portfolio A
Slide 18: Same-Property NOI Growth
18 5.0% 1.2% (0.4)% (3.0)% 1.3% 5.0% (0.8)% (1.9)% (4.3)% 5.0% Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Cash NOINOI 22 .7 % 20 .2 % 23 .9 % 0. 7% 12 .0 % 24 .1 % 14 .1 % 16 .6 % 2. 6% 1. 5% Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 27 .5 % 13 .6 % 4. 4% (1 3. 2) % (1 7. 9) % 32 .9 % 15 .0 % 3. 1% (1 9.
Slide 19: Other Non-IFRS Metrics
19 8.4 7.3 6.3 6.7 6.0 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Financial Overview Other Non-IFRS Metrics (US$ million) (0.3) (1.0) (0.1) (0.6) (3.6) Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Adjusted EBITDA (for the three months ended) FFO, as defined by LPA (for the three months ended)
Slide 20: Customer Concentration and Lease Expiration Analysis
20 Retailer MXN COP 26% 32% 17% 25% Operations Customer Concentration and Lease Expiration Analysis Customer Type Contractual Rent Increases Amount of Leases by Currency As of December 31, 2025 Logistic Services Consumer Goods Distribution Manufacturing and Other 19.4% 13.8% 40.1% 25.9% 0.8% 79.9% 1
Slide 21: Investment Properties Portfolio
21 US$ in millions US$ in millions US$ in millions Square Feet Net Effective Rent Investment Properties No. of buildings Total % of Total Occupied % Leased % Q4 quarter to date NOI Year to Date NOI Annualized Sqft / Year Total fair market value % of Total Operating Portfolio Costa Rica 19 2,516,471
Slide 22: Development Portfolio
22 US in millions Total Estimate Invested Invested to Date Project Sq Ft Occupied % Leased % FMV Land + Infra Shell Total Land + Infra Shell Total Est. Stabilization Date Annualized estimated Rent Revenues Annualized estimated NOI Est. Return on Cost(1) Est. Develop. Yield(1) Type Peru Callao Logist
Slide 23: Land Portfolio
23 Gross Land Area (Acres) Buildable Area (Sq Ft)(1) FMV FMV/Sq Ft of Gross Land Area US$ in millions Q4 2025 Q4 2024 % Change Q4 2025 Q4 2024 % Change Q4 2025 Q4 2024 % Change Q4 2025 Q4 2024 % Change Peru(2) 19.0 30.9 -38.5 % 441,115 670,322 -34.2 % 9.9 16.7 (40.6) % $ 11.98 $ 12.40 -3.4 % Colombi
Slide 24: Debt Summary and Metrics
24 100.0% Secured 26.1% 73.9% Fixed(1)Floating 82.5% 17.5% COP 2025 Q4 2025 Q3 2025 Net debt (US$ in millions) 261.3 256.0 Net debt over investment properties (end of period) 40.2 % 41.0 % Net debt / Profit (loss)(1) 16.2x 37.1x Net debt/ Adjusted EBITDA ratio(1) 9.1x 9.5x Net debt / NOI(1) 6.4x 6.5
Slide 25: Definitions
25 Definitions Please refer to LPA financial statements as prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board and filed with the Security and Exchange Commission (“SEC”) and other public reports for further infor
Slide 26: Discounted Cash Flow Method
26 Discounted Cash Flow Method Using this valuation method, future cash flows forecasted over an investment horizon, together with the proceeds of a deemed disposition at the end of the holding period. This method allows for modeling any uneven revenues or costs associated with lease up, rental grow
Slide 27: ss as es es es > ie Ni i es i i i, i
ss as es 1 es 1 es > ie Ni i es i i i, i i li ie, i oe ie Sie ie Mn, Ws in Bins Vins Fin Fi, Ub Vin. Bis Fins Hin Hien ita Tn iba ite His fe. ies SRV V VATA TIAA AIT TTI SA IVIVIVINIAIAIII IIIA AI I TRIANON NS PUP VVVTV AAT AMVAINVAAINA AAAS ANA I SIA) BA SPU VPA VTA V PUR AVAINAIAIA AIAN SAINI Saas
Logistic Properties of the Americas — Q4 2025 Earnings Presentation on 6ix